$PEAK - Core Labs test project in the Bakken - $PEAK - InvestorVillage
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Msg  11218 of 61199  at  9/28/2010 9:34:47 AM  by

gravol55


 In response to msg 11215 by  GreatSwami
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Re: Core Labs test project in the Bakken

They did not say where or who the client (operator) is.  They did say that it was an imminent test, and that we (analysts/investors) would hear about it very soon, and over the next few quarters, as results become known.
 
I assume that it is in the US, given the length of the laterals.
 
And yes, you are correct about them being a services firm.  The way the speaker spoke, they are at the drill site with the operator, and the well testing firm.  Core labs is selling not only the professional consult, but also a new perf gun that is designed specifically for shale zones - goes 20% further than other charges.  They say this is important to get the frac pump pressure further, and the propant further into the zone.  They also rent a DHT to test the efficacy of each frac using a gamma tracer/detector.
 
Other anecdotes from them:
 
We are at peak oil now (on a plateau (for now) at 88.0 mmbls per day.  Demand at 86.0 to 86.5 mm bls per day.
 
They also said that there will be another 2 or 3 shale oil plays in the US being announced in the next year.  They will be on the same scale as the bakken.  The way he spoke, it sounded like he already knew what they were.


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